Jeera August contract gained Rs 87 and settled at Rs 16000 per quintal on the back of good demand. Speculators enlarged their position in the commodity on the back of some export enquiries coupled with its dwindling arrivals as the arrivals in the Unjha market yard were around 7,000 bags today against the demand of 14,000 bags. Meanwhile, the total production of Jeera in both Syria and Turkey is likely to be around at 45,000 tonnes (Syria is around 30000 tonnes and Turkey is likely at 15000 tonnes), down almost 10,000 tonnes from the earlier projections. The total fresh arrivals of jeera were at around 7,000 bags (demand was reported around 14,000 bags) were reported against 12,000 bags on the previous day. In Unjha, a key spot market in Gujarat, jeera gained 231.15 rupees to end at 15200.9 rupees per 100 kg. The contract made intraday low of Rs 15850 a kg and high of Rs 16200 a kg. Support for jeera is at 15833 below that could see a test of 15667. Resistance is now seen at 16183 above that could see a resistance of 16367.

Trading Ideas:

Jeera trading range is 15667-16367.

Jeera gained yesterday on the back of good demand

Jeera is having resistance at 16183 and support at 15833 level.

NCDEX accredited warehouses jeera stocks gained by 63 tonnes to 11438 tonnes.

In Unjha, a key spot market in Gujarat, jeera gained 231.15 rupees to end at 15200.9 rupees per 100 kg.